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3M | 8-K: Combat Arms Earplug Settlement Achieves Another Milestone with Participation of All Wave Plaintiffs

SEC announcement ·  Jan 16 13:00
Summary by Futu AI
3M Company has announced an amendment to the settlement agreement timing related to the litigation involving Combat Arms Earplugs (CAE), which were sold or manufactured by 3M's subsidiary Aearo Technologies LLC and related entities. The original settlement, known as Master Settlement Agreement III (MSA III), was entered into on August 29, 2023, to resolve claims in both federal and state courts. On January 15, 2024, 3M disclosed that all remaining 'wave' plaintiffs have agreed to participate in the settlement, allowing the company to accelerate the payment of $253.1 million to on or before January 31, 2024. This move demonstrates 3M's commitment to resolving these claims promptly. The company will continue to work towards the full implementation of the settlement agreement and will provide updates on further milestones. The press release also contains forward-looking statements regarding 3M's financial results and business prospects, outlining potential risks and uncertainties that could affect future outcomes.
3M Company has announced an amendment to the settlement agreement timing related to the litigation involving Combat Arms Earplugs (CAE), which were sold or manufactured by 3M's subsidiary Aearo Technologies LLC and related entities. The original settlement, known as Master Settlement Agreement III (MSA III), was entered into on August 29, 2023, to resolve claims in both federal and state courts. On January 15, 2024, 3M disclosed that all remaining 'wave' plaintiffs have agreed to participate in the settlement, allowing the company to accelerate the payment of $253.1 million to on or before January 31, 2024. This move demonstrates 3M's commitment to resolving these claims promptly. The company will continue to work towards the full implementation of the settlement agreement and will provide updates on further milestones. The press release also contains forward-looking statements regarding 3M's financial results and business prospects, outlining potential risks and uncertainties that could affect future outcomes.
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